Establishment Labs Holdings Inc . (NASDAQ:ESTA), a medical technology company, announced today the appointment of Fillipo "Peter" Caldini as the new President, effective immediately. Caldini, 59, brings a wealth of experience to the role, having previously served as CEO of Acreage Holdings (OTC:ACRGF), Inc. and Bespoke Capital Acquisition Corp., as well as holding several leadership positions at Pfizer (NYSE:PFE) Consumer Healthcare and Bayer AG (ETR:BAYGN).
Caldini's appointment, which took place on Monday, follows an extensive career in healthcare and consumer business. His most recent tenure was with Acreage Holdings, where he served as CEO from December 2020 until June 2023. Before that, Caldini was at the helm of Bespoke Capital Acquisition Corp. as CEO and a director from June 2019 to December 2020.
His experience also includes roles as Regional President North America and Regional President EMEA for Pfizer Consumer Healthcare, and several leadership positions at Bayer (OTC:BAYRY) AG, focusing on emerging markets and consumer care.
In line with his appointment, Caldini has entered into an employment agreement with Establishment Labs. He will receive an annual base salary of $415,000, with eligibility for an annual bonus targeting 50% of his base salary.
Additionally, Caldini is set to receive an annual equity award equal to approximately 100% of his base salary, under the company's long-term incentive plan. He has also been granted stock options and restricted stock units valued at $600,000 and $400,000, respectively, which will vest over four years.
The terms of Caldini's employment, including potential severance payments and other benefits, align with those of other executive officers at Establishment Labs. These details were incorporated by reference from the definitive proxy statement filed by the company with the SEC on April 12, 2024.
Caldini holds a Masters of International Economics and Management from Bocconi University, an MBA from Northeastern University, and a BA in Political Science from Boston University.
There are no reported familial relationships between Caldini and any of the company's current directors or executive officers, nor does he have any material interests in transactions that would require disclosure under SEC regulations.
This leadership change comes as Establishment Labs continues to advance in the orthopedic, prosthetic, and surgical appliances and supplies industry, with its business address located in the Coyol Free Zone, Alajuela, Costa Rica.
The article is based on an 8K filing.
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